Any _________________ Allocation of Goods and Inputs Can Be Attained

question 25

Multiple Choice

Any _________________ allocation of goods and inputs can be attained as a general competitive equilibrium through a judicious ___________ of the economy's___________________. This result is known as_____________

• A)arbitrary, allocation, resources; Walras Law.
• B)equitable, allocation, goods; The First Fundamental Theorem of Welfare Economics
• C)efficient, allocation, scarce supplies of resources; the First Fundamental Theorem of Welfare economics.
• D)efficient, allocation, scarce supplies of resources; the Second Fundamental Theorem of Welfare economics.

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Definitions:

Scientific Management Theory

A theory of management that analyzes and synthesizes workflows, with the goal of improving economic efficiency and labor productivity.

Herzberg's Dissatisfiers

Factors, according to Frederick Herzberg's Two-Factor Theory, that can cause dissatisfaction in the workplace if not properly managed, such as poor working conditions or salary.

Maslow's Hierarchy

A psychological theory proposed by Abraham Maslow that outlines a five-tier model of human needs, from basic physiological needs to the need for self-actualization, influencing motivation.

Legal Action

The process of pursuing remedies in a court of law or through legal proceedings.